nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney Sells 40,680 Shares

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 40,680 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $16.07, for a total value of $653,727.60. Following the sale, the chief executive officer now owns 1,281,540 shares of the company’s stock, valued at approximately $20,594,347.80. The trade was a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

nLIGHT Stock Up 5.7%

Shares of nLIGHT stock opened at $17.30 on Thursday. nLIGHT, Inc. has a 12 month low of $6.20 and a 12 month high of $17.67. The business has a fifty day simple moving average of $10.05 and a 200 day simple moving average of $10.24. The stock has a market cap of $855.29 million, a PE ratio of -16.80 and a beta of 2.02.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.13. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The business had revenue of $51.67 million during the quarter, compared to analysts’ expectations of $47.77 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. Analysts expect that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC boosted their target price on nLIGHT from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Craig Hallum upgraded nLIGHT from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Friday, May 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $15.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in nLIGHT in the first quarter valued at about $371,000. Jane Street Group LLC grew its stake in nLIGHT by 622.7% in the first quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock valued at $600,000 after acquiring an additional 66,518 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in nLIGHT by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock valued at $214,000 after acquiring an additional 1,170 shares during the period. Invenomic Capital Management LP acquired a new position in nLIGHT in the first quarter valued at about $6,763,000. Finally, Cinctive Capital Management LP grew its stake in nLIGHT by 228.8% in the first quarter. Cinctive Capital Management LP now owns 412,555 shares of the company’s stock valued at $3,206,000 after acquiring an additional 287,079 shares during the period. 83.88% of the stock is owned by institutional investors and hedge funds.

nLIGHT Company Profile

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.